Zacks Investment Research cut shares of Garrison Capital Inc. (NASDAQ:GARS) from a buy rating to a hold rating in a research report report published on Wednesday, October 25th.
According to Zacks, “Garrison Capital Inc. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA of certain amount. It invests or provides direct lending in first lien senior secured loans, second lien senior secured loans, one-stop senior secured loans or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies. The Company intends to generate risk-adjusted net returns by assembling a portfolio of investments. The Company’s investments include debt investments, preferred and minority equity investments (equity) of diversified companies and a portfolio of unsecured small balance consumer loans. “
Several other equities analysts have also issued reports on the stock. National Securities reiterated a neutral rating and set a $10.00 target price on shares of Garrison Capital in a report on Monday, August 14th. ValuEngine lowered shares of Garrison Capital from a buy rating to a hold rating in a report on Friday, September 1st. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $10.13.
Garrison Capital (GARS) remained flat at $$8.39 during midday trading on Wednesday. The stock had a trading volume of 35,300 shares, compared to its average volume of 35,014. The company has a debt-to-equity ratio of 1.07, a current ratio of 10.29 and a quick ratio of 4.58. Garrison Capital has a 1-year low of $7.77 and a 1-year high of $10.15. The company has a market capitalization of $134.65, a P/E ratio of 7.49 and a beta of 0.24.
Garrison Capital (NASDAQ:GARS) last issued its quarterly earnings data on Tuesday, November 7th. The investment management company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.02). Garrison Capital had a return on equity of 9.33% and a net margin of 14.66%. The company had revenue of $8.90 million during the quarter. research analysts predict that Garrison Capital will post 1.11 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be issued a $0.28 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.12 dividend on an annualized basis and a yield of 13.35%. Garrison Capital’s payout ratio is currently 329.41%.
A number of hedge funds and other institutional investors have recently made changes to their positions in GARS. AJO LP purchased a new position in Garrison Capital in the 2nd quarter worth approximately $816,000. UBS Group AG raised its holdings in Garrison Capital by 20.3% in the 1st quarter. UBS Group AG now owns 442,062 shares of the investment management company’s stock worth $4,324,000 after acquiring an additional 74,540 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Garrison Capital in the 2nd quarter worth approximately $178,000. Goldman Sachs Group Inc. purchased a new position in Garrison Capital in the 2nd quarter worth approximately $129,000. Finally, Oppenheimer & Co. Inc. raised its holdings in Garrison Capital by 35.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 53,727 shares of the investment management company’s stock worth $444,000 after acquiring an additional 14,093 shares during the last quarter. Institutional investors own 21.60% of the company’s stock.
About Garrison Capital
Garrison Capital Inc is a managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA, of certain amount.
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